Mar 13 2008
Beach House Bargains
Fortune magazine is reporting that beach houses have fallen in price by 25% - 30% in the panhandle of Florida. If you have been to the panhandle, you know how beautiful the beaches are. The sand is white and water is clear and beautiful. I vacationed to Panama City Beach last summer. The color of the water was so pretty it was hard to take your eyes off of it. We stayed in a 2 bedroom oceanfront condo that rents for $900 a month from December to March. If I didn’t have a job I would probably be there!
They also mentioned that developers over built in Turks and Caicos, so prices are down there also. I went to the Beaches resort in Turks & Caicos in 2004. It was the most beautiful water I have ever seen in my life. It was literally breathtaking. If I had a lot of disposable income I would look into property there. Maybe when I am closer to retirement… (sigh)
The article goes on to say about the risks of buying beach front property in Florida. Hurricanes, rising sea level, etc..
That is risk that I am willing to take. I want to go home everyday, sit on my balcony and listen to the waves crash in. If I lose it all then that was God’s plan and I will have cherished everyday that I have spent there.
With the bottom droppping out of the housing market like a speeding train… could it be time for me to look in to buying my slice of the ocean? I was looking at small condos on the beach last night and it looks like I can buy an oceanfront condo for under $300,000.00.